November 2016 General Meeting -- FHA Appraisal Education Session

  • November 16, 2016
  • 5:00 PM - 8:30 PM
  • EMBASSY SUITES

Registration

  • CAREA Member
  • NCAREA Members

Registration is closed

CLICK HERE FOR DIRECTIONS TO EMBASSY SUITES

Presenters: Jo Stinett & Simon Willis, HUD/FHA, Denver Homeownership Center 

FHA Appraisal Education Session

Course Summary, Timed Outline & Learning Objectives:

Objective

To review some of the policies to provide clarity for effectively conducting an appraisal.

6:00 – 6:15

Introduction

The Appraiser and Property Requirements for Title II Forward and Reverse Mortgages section of the

Handbook 4000.1 contains the Property Acceptability Criteria for FHA mortgage insurance which include

Minimum Property Requirements (MPR) and Minimum Property Standards (MPS), and include by

reference, associated rules and regulations.

How to Access the new SF Handbook

Lenders, mortgagees, and all other interested parties can access the new Single Family Housing Policy

Handbook (SF Handbook; HUD Handbook 4000.1) via:

HUD’s Client Information Policy Systems (HUDClips) web site on HUD.gov at:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/appr

6:15 – 6:50

Components of Appraisal Guidance

Property Requirements

Report and Data Format Requirements

FHA Appraiser Roster

FHA Appraiser Quality Control and Oversight

6:50 – 7:00 BREAK

7:00 – 7:20

Enhancements to Note and Reminders

Attic and Crawl Space Inspection Requirements

Appliance requirements

Green Building

High Voltage Transmission Lines

Excess/Surplus Land

Valuation Approaches

Roofs Covered with Snow

Manufactured Home Additions

Appraisal Report and Data Delivery Requirements

Photograph Requirements

Maps

Mortgagee Responsibilities/Appraiser Responsibilities

Mechanical Systems

Defective Conditions: Inspection Requirements

Minimum Repair Requirements

7:20 – 7:50

Material deficiencies

Review of appraisal deficiencies noted by DHOC Appraisers

7:50 – 8:00

Q & A


2 hours Colorado Appraiser CE Pending


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